Morgan Stanley now predicts US home prices will decline, marking a shift from years of supply concerns to weakening demand. In Dubai, despite strong transaction volumes, off-plan and land prices are starting to drop, yet market commentary remains bullish.

Developers are turning to expensive private credit as incentives fail to sustain price momentum. Historical trends show that land values dropped 20% between 2014-2020 but then surged five-fold. With a cooling market, experts predict a necessary correction.

A weakening dollar and rising supply could drive further price declines, benefiting buyers while challenging speculators. Sensible pricing is returning across global real estate, signaling the end of excessive returns and a shift toward affordability.